An app making $20k monthly revenue can sell for $1 million at a 4-5x multiple. That's a faster path to millionaire status than chasing a blockbuster startup or grinding a W-2 job for decades.
Not sure if people realize it, but if your app does $20,000 a month in revenue, you're probably already a millionaire. $20,000 per month times 12 months, assume you could sell for, let's call it 4 or 5x multiple. Yeah, that's a million-dollar selling price. And when you put it that way, I think that sounds, and it is, way more achievable than this idea of like, I got to build a million-dollar business, do I have the big idea, whatever. That is a pathway to a millionaire status that does not require like winning the startup lottery of like Yeah, inventing the next big thing, or working and saving and paying your crazy W-2 taxes for like 15, 20 years to get to the same, same outcome.
